They have oil in every hole.......gettin them to pump cleanly has obviously been the problem. Infill wells, as mentioned, should be a proirity to provide cash-flow to cover admin and a good percentage of drilling costs......and/or enough to cover a loan interest and negate need for more dilution.
But I'm a kinda glass half full (bugga Dry July) bushie...... reckon we are due for a 500bbopd plus result outa at least one of these sticky wells,each which seems to be causing one or more technical problems, both unforeseen and unusual......buying more Monday. Bloody well tried to put some cash in com sec account Friday.....unable to at CTB......did online transfer Friday ,?..yet dollars still not there!!!! Who gets the interest while $s in limbo? I bet comsec!!!
SSN Price at posting:
5.2¢ Sentiment: Buy Disclosure: Held
